Our subscriber is preparing accounts for the first year of his property rental business during which he spent a lot of money getting the properties ready for letting. His question is how much of the
expenditure is tax deductible?
Published 31.05.2022
There’s more than one rule which determines the type of tax relief you can claim for capital expenditure in a property rental business. Different rules can apply from year to year. Which can you
claim and how can you ensure maximum relief?
Published 07.01.2020
Landlords of residential properties are now facing tough restrictions on tax relief for borrowing, so there’s all the more reason to maximise other let property tax reliefs. What hidden deductions
might you be missing out on?
Published 26.06.2017
In late 2023 HMRC wrote to landlords suggesting they may have claimed tax relief they weren’t entitled to. It now accepts it was wrong. What’s the full story?
Published 03.04.2024
Correctly recording transactions in your business records is always important but especially so for expenditure on buildings and equipment. How can accurate bookkeeping save you tax?
Published 08.07.2019
Very often, property owners have more costs (loan interest etc.) than they have rents receivable. Unfortunately, it’s not possible to set off these rental losses against other income. However, there
is something else you could do…
Published 11.09.2008
You’ve received vouchers from the government’s Green Homes Grant to go towards the cost of improving the energy efficiency of your buy-to-let property. Will you have to pay tax on this?
Published 10.02.2021
Your rental property was vacant after the last tenant moved out. After a while you let your son move in as a temporary measure. How much, if any, of the running expenses must you disallow for tax
purposes to account for personal use?
Published 22.01.2013
Let’s say the Taxman challenges your claim to offset initial repairs against rental income from a buy-to-let, on the grounds that this is capital expenditure. Can he do so? If so, what’s your defence
against this?
Published 01.02.2007
As a residential landlord you’ll know that HMRC is reducing tax relief on interest you pay on loans used to buy properties to let. Transferring a let property to a company is one way to avoid this,
but is there a better alternative?
Published 19.03.2019